Axxcess Wealth Management LLC Buys 93 Shares of Stryker Co. (NYSE:SYK)

Axxcess Wealth Management LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,167 shares of the medical technology company’s stock after acquiring an additional 93 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Stryker were worth $1,758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Burkett Financial Services LLC bought a new stake in Stryker during the 4th quarter valued at $25,000. DSM Capital Partners LLC bought a new position in shares of Stryker during the 4th quarter worth $34,000. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter valued at $39,000. Accent Capital Management LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $60,000. Finally, Sachetta LLC purchased a new stake in Stryker in the fourth quarter worth about $62,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $361.29 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company’s fifty day moving average price is $344.08 and its 200-day moving average price is $342.74. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.63. The firm has a market capitalization of $137.68 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Analysts Set New Price Targets

A number of research analysts have commented on SYK shares. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Truist Financial reduced their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, Barclays upped their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.